Gold fluctuates at a high level

Gold broke through the triangle convergence range strongly. Today, we should pay attention to the continuation of the bulls. The current watershed of strength and weakness is at the 2350 line. Today is Friday and you need to be careful to guard against profit-taking in the market. Once it falls below 2344, you must be cautious in going long. If it breaks through 2367 again in the evening, it is very likely to continue to rise to 2375 or 2380.

At the 4-hour level, gold continued to strengthen after breaking through the upper line of the triangle range yesterday. The price broke through two downward trend lines in succession. The K-line rose against the upper track of the Bollinger band, and the short-term showed an obvious upward trend. Therefore, it is not easy to chase the high position in operation. Wait for the market to step back and stabilize the support level. If the market is at a high level during the US market, then we can arrange a short position.

On the whole, today's short-term gold operation advice is mainly to go short on rebounds, supplemented by longs on callbacks. The top short-term focus will be on the 2365-2367 resistance range, and the bottom short-term focus will be on the 2345-2350 support range.

Comment:

Gold Trading Strategies Reference

🎯Strategy 1: Go short when gold rebounds to around 2365-2368, stop loss 6 points, target around 2355-2350, break the position and look at the 2345 line✅

🎯Strategy 2: Go long when gold pulls back to around 2345-2350 , stop loss by 6 points, target around 2360-2365, and look at the 2368 line if the position is broken✅

The trend of the gold market is changing rapidly, and trading strategies may also be adjusted in real time. Investors are advised to place orders cautiously and manage account funds and positions reasonably.

Comment:

🔥Hit strategy 1 and reach 2350💯

Comment:

🚫In my analysis in the morning session, I mentioned that once the gold price falls below 2344, don’t go long blindly❗️